KABOOM! Under President Trump U.S. Economy Explodes With 4.1% Growth Rate

The U.S. economy exploded in the second quarter of 2018, with the gross domestic product (GDP) climbing 4.1% — nearly doubling the first quarter, which was revised up to 2.2%.

The booming rate is the highest since the third quarter of 2014 and just the third-highest since the Great Recession began in 2008. The running four-quarter average is 3.1%, considered by economists to be a very strong number.

In Q2 of 2018, consumer spending grew 4%, while nonresidential business investment jumped 7.3%, both also considered strong numbers.

Economists credit Trump's tax cuts with the high GDP growth. Both companies and consumers have been spending again as unemployment plunged to an 18-year low and the housing market boomed.

"When you drop taxes and increase spending, even if some of it is saved rather than spent, it boosts growth," Jim O'Sullivan, chief economist at High Frequency Economics, told CNBC. "Ultimately, that boost won't last forever, and of course you've added to the government debt. But there's no question that it's stimulative."

Summers went as far as to call Trump the most "dangerous" American presidential candidate for the economy in his lifetime.

"If [Trump] is elected, I would expect a protracted recession to begin within 18 months. The damage would be felt far beyond the United States," Summers wrote in an op-ed in the Financial Times on Sunday.

The "Trump risk" is real, says Summers, and he doesn't understand why American and global markets aren't more worried about it. The U.S. stock market continues to sit just under its all-time record level.

Whats really funny is that the democrats said back in 2016 that Trump would destroy the economy and that he won't bring back any jobs.

Obama during a 2016 CNN town hall speech said Jobs will not come back to the US.

Hillary during 2016 campaign said Trump will crash the US economy.

But it looks like both Obama and Hillary were both wrong and off the mark. As of lately Trump has brought back 3 million jobs and nearing 4 million. And the economy is up and as stayed up since Trump took offfice. All the things they said he couldn't do about the economy he is doing.

Give it a few months. The retarded tarrifs will show its effects in all economic indicators. There’s a lag in when the data finally reflects the result of trumps tarrifs. In the meantime enjoy black mambas legacy.